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FTB property offer ....help!
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ali_trotman
Posts: 4 Newbie
I am looking for some advice on buying my very first property.
Myself and my partner have saved up and have a nice sized deposit available, we are in rented accom with a rolling contract so only need a months notice and we have an agreement in principle from our mortgage provider (we just need to do the application)
Anyway, we have looked at a few 3 bedroom properties recently all in the same price range, from about £140000-£145000. This seems to be the average price of what we are hoping to get.
We then saw a property that was on the market for offers over £139950. We really liked the property as unlike the others we had seen, it had partially converted the garage into an office which means we wouldn't have to use a bedroom as an office, leaving us with 3 bedrooms as bedrooms. All the others we had seen did not have this so are essentially 2 bedrooms for us.
We made an offer this morning at £132000 to test the water and give some negotiation room. We knew this would be declined but were prepared for that. They rejected it not long after saying it was much lower than they hoped.
Then later this afternoon after much discussion and thought we went up to £135000.
The estate agent seemed very happy that this was a price that would enable them to get the house they were looking at.
About an hour later the agent called back with bad news. The property that the sellers were looking to put an offer on had had an offer accepted this morning. To outbid the other buyers they would need us to pay £139950.
We think that the property is worth this much but we don't feel like we should be doing all the compromising and the sellers should be giving a bit too.
We also don't want to end up in a situation where we are funding their bidding war.
Are we getting into a dangerous situation where we are unlikely to get this property?
Should we wait a while before making another offer?
Should we make an offer tomorrow of £138000 saying that this is pushing our budget? Then if they refuse that say we need to go away and look at other properties and also our finances to re-evaluate our position?
My partners parents think we are moving to quickly but we really like the property and will still have plenty of savings to make changes. Also we haven't seen anything else for less than this that comes close. All others that are £140-145000 seem much smaller.
Are we just not offering the full amount because we want to feel like we have got a bargain?
Any help would be great
Myself and my partner have saved up and have a nice sized deposit available, we are in rented accom with a rolling contract so only need a months notice and we have an agreement in principle from our mortgage provider (we just need to do the application)
Anyway, we have looked at a few 3 bedroom properties recently all in the same price range, from about £140000-£145000. This seems to be the average price of what we are hoping to get.
We then saw a property that was on the market for offers over £139950. We really liked the property as unlike the others we had seen, it had partially converted the garage into an office which means we wouldn't have to use a bedroom as an office, leaving us with 3 bedrooms as bedrooms. All the others we had seen did not have this so are essentially 2 bedrooms for us.
We made an offer this morning at £132000 to test the water and give some negotiation room. We knew this would be declined but were prepared for that. They rejected it not long after saying it was much lower than they hoped.
Then later this afternoon after much discussion and thought we went up to £135000.
The estate agent seemed very happy that this was a price that would enable them to get the house they were looking at.
About an hour later the agent called back with bad news. The property that the sellers were looking to put an offer on had had an offer accepted this morning. To outbid the other buyers they would need us to pay £139950.
We think that the property is worth this much but we don't feel like we should be doing all the compromising and the sellers should be giving a bit too.
We also don't want to end up in a situation where we are funding their bidding war.
Are we getting into a dangerous situation where we are unlikely to get this property?
Should we wait a while before making another offer?
Should we make an offer tomorrow of £138000 saying that this is pushing our budget? Then if they refuse that say we need to go away and look at other properties and also our finances to re-evaluate our position?
My partners parents think we are moving to quickly but we really like the property and will still have plenty of savings to make changes. Also we haven't seen anything else for less than this that comes close. All others that are £140-145000 seem much smaller.
Are we just not offering the full amount because we want to feel like we have got a bargain?
Any help would be great
0
Comments
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ali_trotman wrote: »We think that the property is worth this much
so pay it then...?0
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